“2022 was a very complicated year, marked by the war in Ukraine and multiple economic uncertainties, caused by inflation and by the energy crisis. Despite this difficult context, Romania’s economy has weathered this period well. Regarding Banca Transilvania, we continued to be the largest lender in Romania and the most important partner in the Government programs launched in 2022,” said Horia Ciorcila, Chairman of the Board of Directors, Banca Transilvania.
“We also continued to invest in technology, digitalization and infrastructure and strengthened the Bank’s and the Group’s position on the local market. The financial results confirm our expectations and are the foundation for our future ambitions. We closely monitor and remain mindful of the geopolitical and macroeconomic developments, but, at the same time, keep ourselves open to potential opportunities.”
The assets of the group reached RON140.5 billion at the end of last year. Loans grew to RON68 billion and deposits to RON119.7 billion, RON79.9 billion of which from individual customers and RON39.85 billion from legal entities.
The bank’s management will propose to the Board of Directors an allocation of the profit for 2022 for the bank’s capitalization amounting to over RON900 million, with the rest being allocated to reserves from retained earnings. The profit appropriation proposal is in line with the prudential recommendations of the National Macroprudential Supervisory Committee and the Romania’s central bank, given the volatile international context and the domestic challenges. Thus, the profit for 2022 will be used to sustain the lending and development of the Romanian economy in the future.
(English version by Loredana Fratila-Cristescu)